New mortgage interest rates at lowest levels since March 2023

Central Bank data shows Ireland has the sixth highest rates in the eurozone

Central Bank data shows that the average interest rate on new Irish mortgage agreements as of the end of October stood at 3.56%. File photo

The average interest rate on a new mortgage has hit the lowest levels since March 2023 after falling marginally in October, the latest data from the Central Bank of Ireland shows.

The weighted average interest rate on new Irish mortgage agreements as of the end of October stood at 3.56% which is down by 0.03 percentage points and down by 0.47 percentage points compared to the same month last year.